Sunday, September 28, 2008

BVI FSC Warns Publics about Unauthorised Financial Services Providers

On September 22, 2008, the British Virgin Islands Financial Services Commission has published Advisory Warning No.3 concerning the activities of the company Offshore Health and Travel Benefits. By this Advisory Warning, the BVI FSC had the purpose to warn public against dealing with unauthorised financial services providers.

According to the information announced by the BVI FSC, Offshore Health and Travel Benefits has not received any license or authorisation “to conduct any form of regulated financial services business in or from within the BVI, and as such has not been authorised to conduct insurance business in or from within the BVI.”

Offshore Health and Travel Benefits has solicited insurance business through its website at www. tilloglobe .com, and an advertisement in the British Virgin Islands media. Meanwhile, the BVI FSC informed the public that Offshore Health and Travel Benefits have not been accessed by the Commission to be allowed to carry on insurance or any type of financial services business in or from within the BVI.

Members of the public are also invited to provide the BVI FSC with any information concerning Offshore Health and Travel Benefits and its activities, as well as any other unlicensed entities operating in the similar way in or from within the BVI territory.

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